Wisbech solicitor urges local families to plan ahead to reduce their inheritance tax bill
Recent figures from HMRC show a 7.2% increase in inheritance tax receipts, a tax paid by a person who inherits money or property of a person who has died.
As more estates fall within the taxable threshold, it's crucial to stay informed and plan ahead. Don't let your loved ones face unexpected tax burdens.
Acting as an Executor - part two
When the executor of a Will has been identified, they can move on to the next stage of the estate administration.
This is to identify, value and secure all assets and to establish the extent of all liabilities. Some of the assets may be obvious, such as the deceased’s home (if they owned a property) and perhaps their car and jewellery. The executor will also need to find out about any gifts made by the deceased in the seven years before their death.
Acting as an Executor - first steps
Following a death the first thing to do is to establish who should deal with the estate.
If the deceased did not make a Will, there are strict rules about who should act and it is important that these are followed. If you are in any doubt about who has the right to do this you should seek legal advice.
Dying Matters Awareness Week:
Understanding Employer Responsibilities: Supporting Employees Through Bereavement
Losing a loved one is one of life's most challenging experiences, impacting every aspect of an individual's life, including their work. For employers, fostering a compassionate and supportive workplace environment is not only a moral obligation, but also essential for maintaining productivity and employee well-being.
Dying Matters Awareness Week:
Attorneys' Duties and End of Life Decisions
Making end-of-life decisions for someone who can no longer voice their wishes is a huge responsibility, but you may find yourself in a position of having to do just that if you have been appointed as an Attorney for a family member or friend under their health and welfare Lasting Power of Attorney (LPA).
Dying Matters Awareness Week:
Lasting Power of Attorney for Health and Welfare: Planning for end of life
An LPA for Health and Welfare can be an invaluable tool if you are unable to tell the medical professionals what treatment you want, or don’t want, at the end of your life, as your Attorneys can give those instructions on your behalf if you give them permission to do so.
Dying Matters Awareness Week
Hospice UK are running Dying Matters Awareness Week from 6th to 12th May. Vine Law will be supporting them, sharing resources and blogs.
Every year, people around the UK use Dying Matters Awareness Week as a moment to encourage communities to get talking in whatever way, shape or form works for them.
Acting as an Attorney under a Lasting Power of Attorney
If you’ve been asked to act as an Attorney under a Lasting Power of Attorney (LPA) you may have discovered that the LPA doesn’t give much guidance about what the role entails.
The only relevant section is headed “Your Legal Rights and Responsibilities” and this should be read by all the parties to LPA.
Changes to The Employment Relations (Flexible Working) Act 2023
The Employment Relations (Flexible Working) Act 2023 is about to pass into law, with the final approval of Royal Assent scheduled for today (20th July 2023).
This means that the Bill has passed through the Commons and the Lords, and is only a step away from becoming legislature or an Act of Parliament.
Vine Law is coming to Ely!
Vine Law was founded in November 2020 by Melinda Smith and Kim Cross together with their colleague Cath Collins who joined them shortly after. In May 2021, Kieren Cross joined the firm as an additional partner with their legal technician Anouska Rains-Kardi completing the current team in 2022.
